Analog Devices, a US-based semiconductor company specialising in data conversion, signal processing and power management technology, has announced plans to invest $683.5m to expand and open a new 4,000m² R&D and manufacturing centre in Limerick, Ireland. The investment will create 600 new jobs.
The new investment is planned as part of a collaboration within the EU’s Important Projects of Common European Interest on Microelectronics and Communication Technologies (IPCEI ME/CCT) initiative, and will support cross-border collaborative research.
Analog Devices was founded in Massachusetts in 1965 and has established itself as one of the world’s leading semiconductor companies. It has regional headquarters in Shanghai, Munich and Tokyo, as well as Limerick. Analog also has testing facilities in the Philippines, Thailand and Malaysia, as well as design centres in Australia, Canada, China, Egypt, Germany, India, Israel, Japan, Spain, Taiwan, Turkey and the UK.
Ireland has forged a reputation as a foreign direct investment hub in recent years, benefitting to some extent from the UK’s decision to leave the EU (of which Ireland is still a member). On top of this, the country was recently ranked as the best country in which to start a business, according to insurance provider William Russell.
The IPCEI ME/CT initiative enables the European Commission to “allow member states to design and implement national investments targeting important market
failures or societal challenges that could not otherwise be addressed”. The initiative was issued its first guides in 2014, which were updated in late 2021, to “align the criteria more closely with EU political priorities, in particular the European
Green Deal and the digital strategy”.
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